WASHINGTON–The Office of the Comptroller of the Currency (OCC) has a new theme on its home web page: helping banks make the most of “digitalization.”

The new theme will not be a surprise to credit unions, as the OCC is now lead by Rodney Hood, the former NCUA board member and chairman who championed technology and fintech during his term. 

According to the OCC’s new message, it sees digitalization as a means to “change a business model, provide new revenue and value-producing opportunities, or automate business processes.”

“New and emerging technologies are important tools for community banks to meet customer demand, increase revenue, improve efficiencies, and remain competitive.” the agency said in its released bulletin. 

The OCC added that it is not playing favorites and is “technology neutral.”

What’s Included

The OCC further said in its bulletin that the new web page:

• Highlights relevant OCC rules, statements, and guidance that community banks can reference when pursuing their digitalization efforts.
• Will be kept up to date as new resources become available
• That it will make available links to regulations, statements and guidance, and statements or guidance on risk management and emerging technologies.